Alexandria Real Estate Equities Q3 Profit Down, But FFO Rises

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) Monday reported results for the third quarter, with net income dropping from last year.

Net income for the quarter was $21.9 million or $0.13 per share, compared to $341.4 million or $2.11 per share last year.

Funds from operations was $386.4 million or $2.26 per share, compared to $344.7 million or $2.13 per share last year.

Total revenues for the quarter rose 8.2% to $713.8 million from $659.9 million last year.

Analysts polled by Thomson Reuters expected earnings of $1.14 per share and revenues of $721.98 million for the quarter.